HomeMy WebLinkAbout07413ORDINANCE NO. 7413
AN ORDINANCE LEVYING AND CERTIFYING THE SOUTHPOINTE SPECIAL IMPROVEMENT
MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY MADE IN 2005 FOR THE 2006 BUDGET
YEAR
WHEREAS, the City of Pueblo's budget for fiscal year 2006 has been prepared and
approved in accordance with the provisions of Article 7 of the Charter of the City of Pueblo, and
WHEREAS, the 2005 net assessed valuation of all taxable property in the SouthPointe
Special Improvement Maintenance District as certified by the Pueblo County Assessor is
$1,326,110 and
WHEREAS, the maximum allowed property tax revenue for fiscal year 2006 pursuant to
section 20(7)(c) or Article X of the Colorado Constitution is estimated to be $6,631. NOW
THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The City Council as the governing body of the SouthPointe Special Improvement
Maintenance District, for the purpose of meeting maintenance and reserve expenses of the District,
does hereby make, set and levy a tax of 5.00 mills upon each dollar of the total assessed valuation
of all taxable real property located within the SouthPointe Special Improvement Maintenance
District on the assessment date to meet the cost of maintenance and reserve requirements for
fiscal year 2006.
SECTION 2.
The City Council of the City of Pueblo does hereby fix and certify to the County
Commissioners of Pueblo County, Colorado the following mill levy imposed by this Ordinance upon
each dollar of the total valuation for assessment of all taxable real property located within the
SouthPointe Special Improvement Maintenance District on the assessment date:
Gross Mill Levy 5.00 mills
SECTION 3
The City Clerk is hereby directed to deliver a certified copy of this Ordinance, together with
a Certificate of Tax Levies, form DLG 70, properly completed by the Director of Finance, to the
County Commissioners of Pueblo County, Colorado, and the Division of Local Government
immediately after passage of this Ordinance.
All increase to the District's net fund balance shall constitute and be considered "reserve
increases" and therefore a part of the district's 2005 fiscal year spending. All 2005 year -end
balances shall constitute and be considered "reserves" and all subsequent expenditures and
transfers from such reserves shall be excluded from the district's fiscal year spending within the
meaning of Article X, Section 20 (2)(e) of the Colorado Constitution.
SECTION 5.
This Ordinance shall become effective upon final passage.
INTRODUCED November 14, 2005
BY Michael Occhiato
Councilperson
APPROVED:
PRESMENT 9F CITY C IL
ATTESTED BY:
CITY CLERIC
PASSED AND APPROVED December 12, 2005
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Background Paper for Proposed
ORDINANCE
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AGENDA ITEM #
DATE: NOVEMBER 14, 2005
DEPARTMENT: OFFICE OF THE CITY MANAGER
DAVID J. GALLI, CITY MANAGER
DOUGLAS M. FITZGERALD, ASSISTANT CITY MANAGER
AN ORDINANCE LEVYING AND CERTIFYING THE SOUTHPOINTE SPECIAL
IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY
MADE IN 2005 FOR THE 2006 BUDGET YEAR
ISSUE
This ordinance sets the mill levy for the property tax within the SouthPointe Special
Improvement Maintenance District to be assessed and collected for use in the 2006 budget.
Approval of the ordinance.
FINANCIAL IMPACT
The levy is set at 5.00 mills by approval of the voters within the District. It is estimated to
collect $6,631 of property tax on an assessed valuation of $1,326,110.